Cable Hill Partners LLC Trims Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Cable Hill Partners LLC decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 19.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,554 shares of the semiconductor company’s stock after selling 1,100 shares during the period. Cable Hill Partners LLC’s holdings in Microchip Technology were worth $261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Whipplewood Advisors LLC bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $68,000. Richard Bernstein Advisors LLC bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $2,146,000. JFG Wealth Management LLC bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $388,000. IFP Advisors Inc boosted its position in shares of Microchip Technology by 6.5% in the fourth quarter. IFP Advisors Inc now owns 5,579 shares of the semiconductor company’s stock valued at $323,000 after acquiring an additional 340 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $2,994,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 0.7 %

Shares of NASDAQ MCHP opened at $59.77 on Thursday. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The firm’s fifty day moving average is $56.85 and its 200 day moving average is $67.72. The company has a market cap of $32.15 billion, a price-to-earnings ratio of 106.73 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Needham & Company LLC dropped their target price on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Morgan Stanley dropped their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Evercore ISI reiterated an “outperform” rating and set a $95.00 target price (down from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. B. Riley reiterated a “buy” rating and set a $75.00 target price (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $80.00 to $65.00 in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.11.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.